May 27 (Reuters) - Nuclear technology company Oklo ( OKLO )

said on Tuesday it has signed a memorandum of

understanding (MOU) with South Korea's nuclear power plant

operator Korea Hydro & Nuclear Power (KHNP) to develop Oklo's ( OKLO )

planned Aurora powerhouse.

Shares of Oklo ( OKLO ) were up 1.9% at $49.71 in morning trade.

Oklo ( OKLO ) also said the MOU outlines plans to collaborate on the

development and deployment of its advanced nuclear technology

globally.

Nuclear companies are in high demand as the industry is

considered to be a cleaner source of fuel and more reliable than

wind or solar energy.

U.S. President Donald Trump on Friday signed executive

orders seeking to jumpstart the nuclear industry where the

orders direct the nation's independent nuclear regulatory

commission to cut down on regulations and fast-track new

licenses for reactors and power plants.

Oklo ( OKLO ) said it plans to deploy its 75 megawatt electric (MWe)

Aurora powerhouse, a neutron fission-reactor designed for

providing clean and affordable energy to industries including

data centers. The facility is located at the Idaho National

Laboratory site.

The company is currently advancing through the licensing

process and expects to complete it later this year.

The Aurora powerhouse, through its nuclear technology, needs

to be refueled once every 10 years or more, unlike traditional

reactors where one-third of the reactor core is changed every 1

to 2 years, and is expected to have lower costs.

The Sam Altman-backed Oklo ( OKLO ) said under the agreement it will

collectively work, with the South Korean nuclear operation and

construction company, towards development and verification of

the Aurora powerhouse.